a client recently that is relocating to san diego wanted to have us help them find a home. "we will be moving in the next 90 days." Well as luck would have it they found the home of their dream in point loma, a popular area for san diego real estate.

"What do we do?", they asked. "We haven't listed our house back home yet."

Well there are many ways to do this. Make the contract on your new home contingent on your old home selling.Another is to ask for a longer time to close the deal on the new home.Some sellers wont go for the contingency but they will go for a longer time to close. You might have heard the term "90 day escrow"?

Another way to feel more comfotable is to look at the bigger picture to see worse case scenarios of keeping the property and renting it out till it sells. "We were surprised, we didn't expect to keep the house but the payments on it were lower than the rent we could get. Now we have a positive cash flow AND the tax advantage."

Lastly, you could change your financing terms on the new house so you put less down and hold on to a few payments to cover the time it will take to sell. We have 0 down loans that will free up the cash you might need.

"But how can I get approved for 2 homes?"

Rent your old one. If the lender sees that you have a rental agreement for something close to the payment, then they will exclude it (along with the rental income)from your debt to income.

There are many other techniques that an experienced real estate mortgage team knows about.If its not us then be sure to find the team that knows, it will save you allot of stress.

CNN announced today that allot of people carrying adjustable rate loans are about to have their payments go up.

many having those types of loans have prepayment penalties so people are feeling they are between a rock and a hard place.

There are programs that select lenders have that can forgive the penalties.

We are licensed in only 36 states but we know of others in those states that can help like we can

If you have an adjustable rate mortgage and wondering if its time to refinance because of all the hoop lah that many real estate agents and loan reps are crying, dont sweat it.

There are allot of people that got in real estate recently because it was so lucrative. Many of us who have been around longer than the latest boom? No better not to scare or hype the situation.

People that do that are ignorant to the history of real estate and the market and do it to get attention(if they are in the media) or an extra commission if they are in the business.

Home Prices are elevated and will drop a little but in the next few years will surpass their current prices.

Mortgage Rates are good now and will go up in the next year but like history shows us will go back down

However if your rate period ends in the next two years then it might be best to refinance into an interest only fixed rate program.You payments will stay lower.

If you have been relying on the low payment then we suggest locking in the payment (although a little higher)now while you can and seeing an accountant. They can amend your taxes the past few years and hopefully get you some extra cash that you put away in your mortgage payment account. Then have them estimate what your return will be if you keep your exemptions the way they are now but then go to your work and raise your dependents for the year so you get more in your paycheck NOW.

One or all of these things will keep you away from the hype and them away from your money